India has locked down economic activity and financial market are under severe stress.

The global slowdown can deepen with adverse implications for the country, Das said.

Slump in crude oil prices upside for India; foodgrain prices may soften further on the back of record production, RBI governor said.COVID-19 related volatility in the stock market has impacted share prices of banks as well resulting in some panic withdrawal of deposits from a few private sector banks.

It would be fallacious to link share prices to the safety of deposits. Depositors of commercial banks including private sector banks need not worry on the of their funds, the RBI governor said.

RBI governor said all instruments conventional and unconventional are on the table to support financial stability and revive growth.